National Republican., 1887-10-13
A DEPRESSED MARK EFT.
Influences which Aided tho Bears In
HammerIng Down Prices.


Hammering Down Prices.
NEW YORK, Oct. 12.--The stock market
to-day was feverish and very weak on sell
ing for both sides Of the accouut induced
by the passing OF the Baltimore and Ohio
dividend aud the determined attacks OF the
bears. Business was quiet IN the forenoon
and with Jersey Central as the future 90
rumors, OF a speedy termination OF the re.
ctivership. At noon, however, tho news
Of the passing Of the Baltimore and OHIO
dividend was received which became the
signal for heavy swing movement aided
by the circulation OF many dlsquieting ru-
mors all OF which had their effect Tue
story that Mr.. Willard had resigned from
the Northern Pacific directory was usel
against that aud its kindred stocks aud the
pressure upon Union Pacific became partlc-
uarly heavy, sales for Boston account be.
ing specially numerous aud Its price was
carried down five points.
The depression was aided by the room
traders, who Joined, helping the market
down, and the business OF the afternoon
was very large and important. Reading,
as usual, was at the head In the amount OF
business done, and while the buying In the
stock was good, IL was forced down with
t G remainder of the list. Money was easy
throughout, but sterling exchange was
strong on a scarcity OF cotton bills, but the
rise was attributed to sales Of stocks for
foreign account.
The opening was firm to strong at ad
yances Of from to per cent, but the
Improvement was not maintained In the
early dealings, the entire list moving of
under the lead Of Union Pacific. A mate
iial recovery took place, after which the
market, became dull, with general down.
ward tendency, which became more pro
nounced after 10 o'clock, The llst sud.
denly sprang into activity, and rapidly de.
clined during the entire afternoon, subject
to one or two insignificant checks only
There was slight rally in the last hour,
hut the close was weak and active at or
near the lowest prices Of the day.
Money on call has been easy, ranging
from 81 TO 8, last loan at ~ and closing
offered at 81. Sterling exchange is quiet,
but firm. Actual business at 4SO}
for eo'day bills, and 4s49 TO 4sia for de
mand. Posted rates, 4Sl to 4S51. Gov.
erpment bonds dull, but firm to strong.
State bonds have been duh and steady.
Treasury balances Coin. Sl32, 3TS, 422
currency sl2, 2,4ls,6s9.
The following were the closing bid quota
tions:
nss, l2sl ~ coup; lOS; Pac. ss of ,o5, s., ~
La Cons. V s7ss; ; No. Os Of 81 iO; n NJ Z. Con Con.
| Go, 1919: do. Is, 95; Tenn. settlement 6s l03
| do. 5s. lW*. Va. 6s, iS; do. consols, X n.
| q, 50+: Tenn. settlement 3s, 70 Cen, Pac
| flrsts, Id; Denv. ana Il. g. tirsts, 70 NJ. X
| and T., $50; Northern Pac. ilrsts, III; do
seconds, 97; Northwestern cons, 1917; do
| drbeniure, 1921; st. l.. and Sun Fran, ll3: 81
| Paul con-. 1869; st, l., Chicago, and Pac pfd
| III; Southern Pac. Rrsts 1854; 4. P. Il. q. Il o..
| 62; Northern Pacific LIST, lis; West Shore 9SZs
| Adams Express, 40; Alton and T. a,
| 80; do. pfd., 10; Am. Express, lO6; Bos. All
| Line pid., 9s; b. q. and r. N, 35: Canadt
| Southern, 5l54; Canton, 55t; Cen. Pac., ~
| Ches. and Ohio, 4; Chicago aud Alton, 1i0
| do. pfd., l50; @. b. aud O., l2Sla; Cleve
| land and Col 49J5; Con. Coal, 20; Del. ant
| Hud. 97lz; Del. 4 Lack 12il5; ben. IL z, G..
2l1S; Erie, A;do. pfd 6l1 Fort Wayne, li9l2
| Harlem, 200; Hous. Il Tex, 20 III. Cent. llb
Kansas & Texas, 2l1S; l.. L. & W., AZ
Lake Shore, 80: Lvl. and Nash, 5il5
Man. & Con, 90; NJ. and Char, Al
N. 4 l., i4l: Mich Cen, S3A; Mo. Pac.
| 90: Mob. and o., 10; Mar and e., 1881
| N. Chat, SO: N. J. Gen., 7lJ1; Norfolk ant
| Western pfd., 3715; Northern Pac., 20; do, pfd.
4t5a Northwestern, 1925; do. pid., 1888;
| Y. Cen, l03%; Chicago and st. L., l5la; do
pfd. 27 Ohio aud Miss, 221a; do ptd, 81
Oregon Nav, so; Pac. Mail, 35A; Pitts
burg, 152; Reading, 59i1; Richmond All,
| Aleg. O.; Richmond and Dan, l5O: Roc
1sld; 1l3; st. L. and San. Fran, 3S2Ss; do. pfd
| 20; do. first pfd., l0S; st. Paul, 72Is; do pid
ll3; st, p. and o., 39sa; do. pid., 1885, Texa
Pac., 2l7a; Union Pac., Az; U. s. X. o.; Wat
Pac., Is; do pfd., lS7s; Wells Fargo, l25
West. Union. 75I4 Tenn. Coal and irou, %
Cotton, Oil Trust, 2i16; Quicksilver. o; dc
| pfd.. %.